GOLD:FUNDAMENTAL INFOS+TECHNICAL OUTLOOK | SHORT SETUP ð
Bearish wedge suggests more pain for gold bulls
âThe US Core PCE price index is due for release later on Thursday. Hotter inflation is likely to seal in a 50-basis points May Fed rate hike. Although concerns over a potential recession, in the face of the recent yield curve inversion and aggressive Fedâs tightening could have a major impact on the dollar and gold valuations.â
âGold price has confirmed a bearish wedge formation on the four-hour chart. If the bearish momentum extends, XAU/USD could fall further towards the $1,900 mark, below which a test of the March 29 lows of $1,890 will be inevitable.â
âThe US Core PCE price index is due for release later on Thursday. Hotter inflation is likely to seal in a 50-basis points May Fed rate hike. Although concerns over a potential recession, in the face of the recent yield curve inversion and aggressive Fedâs tightening could have a major impact on the dollar and gold valuations.â
âGold price has confirmed a bearish wedge formation on the four-hour chart. If the bearish momentum extends, XAU/USD could fall further towards the $1,900 mark, below which a test of the March 29 lows of $1,890 will be inevitable.â
āļāļ§āļēāļĄāļāļīāļāđāļŦāđāļ:
â
TELEGRAM CHANNEL: t.me/+VECQWxY0YXKRXLod
ðĨ UP to 4000$ BONUS: forexn1.com/broker/
ðšðļ US ZERO SPREAD BROKER: forexn1.com/usa/
ðŠ Instagram: www.instagram.com/forexn1_com/
ðĨ UP to 4000$ BONUS: forexn1.com/broker/
ðšðļ US ZERO SPREAD BROKER: forexn1.com/usa/
ðŠ Instagram: www.instagram.com/forexn1_com/
